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The Polkadot Web3 interoperability blockchain (DOT) has ushered in a new era with the launch of its open governance platform, OpenGov. This highly anticipated development signals a significant shift towards fully autonomous decision-making, in which power is transferred to the Polkadot community.
The platform underwent rigorous testing on Polkadot’s canary network, Kusama, before receiving the go-ahead for deployment to Polkadot’s main network.
OpenGov Polka Dots: A New Era of Autonomous Decision Making
According to a series of official tweets, Polkadot OpenGov empowers communities by allowing them to organize networks, eliminating drafts “first class citizen.” The user now has complete control over the networkbecause community polls will determine treasury fund allocations, make important networking decisions, and solve problems.
1/ 🎉 Polkadot OpenGov, the pinnacle of governance systems on Web3, is officially here! Welcome to a new era of fully autonomous, transparent & efficient decision-making where the entire process is left to the DOT community. 🌐 pic.twitter.com/zli6Vln7Dt
— Polkadot (@Polkadot) June 15, 2023
This inclusive approach allows anyone to actively participate and contribute to the movement. In addition, the launch of OpenGov has two goals: empowering Polkadot (DOT) holders and protecting the network from malicious operators, because decentralization is the key to protocol resilience.
The blockchain platform further emphasizes that,
“The evolution of Polkadot is now in the hands of the community as holders of the original token, DOT, can propose a new referendum at any time – and do so as often as they wish.”
An important feature of the OpenGov platform is its intentional release from the whale, because the controls are completely autonomous. Instead, the network is governed by a single group of participants, DOT token holders, who are supported by the Polkadot Fellowship—an elected body of more than 45 members.
The newly formed Fellowship replaces the previous Polkadot Council and Technical Committee. The ongoing development of the platform remains at the forefront, with various ongoing initiatives, including blockchain-based identity solutions and decentralized social networks, which aim to improve user privacy and data ownership, as mentioned.
What’s morePolkadot emphasized the importance of the OpenGov platform, calling it the pinnacle of governance systems in the web3 space. The community is now responsible for driving Polkadot’s evolution, as DOT holders have the freedom to propose a referendum whenever they want, encouraging deeper engagement.
To start using Polkadot OpenGov, users can follow a simple three step process which includes visiting the OpenGov page and clicking “Follow” button, connect their DOT wallet to explore the platform and vote on proposals or even submit their own, and keep track of the latest proposals and referrals by visiting the platform regularly.
DOT Surges More Than 1%
Polkadot’s announcement was accompanied by a slight spike in the price of its original token. Currently trading at $4.36, the live DOT price reflects a 24h gain of +1.34%. The launch of OpenGov has no doubt caught the attention of investors and enthusiasts alike, as Polkadot continues to solidify its position as one of the leading players in the crypto space.
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